Shares of Pathfinder Minerals (PFP) were up 25% as director share buying gave the impression that a denouement as far as the long-awaited mineral sands project in Mozambique could finally be on its way.
With the saga the best part of a decade old, it could very well be the case the stock has a sharp re-rate if there is any confirmation that the log jam is finally behind the company.
Shares of fast-growing pharma services group Open Orphan (ORPH) looked to have all but chewed up a recent seller, as investors enjoyed the prospect of the group becoming increasingly profitable over the remainder of the year. They also eyed up prospects for its Immutex universal flu vaccine / AGS-v mosquito-borne diseases vaccine.
The latest addition to speculation was the possibility of the likes of a watch health monitoring group such Fitbit, Apple, Samsung or Amazon wanting a tie up with Open Orphan’s Genomic Health data platform. All this left the shares up at 15.35p, a rise of 8%.
There was more director buying at inventory monetisation specialist [email protected] Capital (SYME), this type via a company controlled by CEO Alessandro Zamboni. The chunky purchase of 660m shares caused the stock to rise 14% to close at 0.74p, amounting to a 10 fold plus increase in value over the course of August.
Amigo Holdings (AMGO), the guarantor lender, remained the subject of heated debate on the bulletin boards, with the market apparently divided right down the middle in terms of those who believe the stock to be a hero or a zero.
Things look to be equally heated between founder James Benamor and the board, whom he is wanting to kick out. Just to add even more colour the company unveiled that its bad debt charged to over a third of revenues, with profits all but wiped out. Nevertheless, the bulls were victorious to end the week, with a 15% share price rise being the result. The promise by Benamor to buy up to 29% of the group up 20p has clearly been supportive, although with the stock closing at 13.9p, he currently has the opportunity to load up well below 20p.
Tech investor Pires (PIRI) has been rising most of the week, helping along 22% shareholder Riverfort (RGO) and 18% shareholder Chris Akers, to feel that much richer. But with a new TR1 out revealing a new significant stakebuilder, John Mahtani at 3%, we have an explanation for the latest share price rise of 10% to leave the stock at a 4 year high of 6p.
Another stock which has been rising all week is Wishbone Gold (WSBN), where the revamped, debt-free and cashed-up gold miners recent announced it was to expand exploration at its White Mountains project in addition to Wishbone II. The stock soared another 29% to 3.4p.
Another company where investors have been waiting several years for a successful conclusion is Oracle Power (ORCP), with its massive Thar coal projection in Sindh Province. Here the shares jumped 16% off the back of an announcement that the company is to sit around a table to discuss getting the long-awaited letter of intent for its multi-billion-dollar Thar Coal Project. All of this comes after a Pakistani Minister included the Thar Project’s output in his forecast for energy generation in the country by 2030.
There was a delayed positive reaction to resources investor and exploration group MetalNRG (MNRG) with the stock 9% to the good, the day after the company stated it was forming a special purpose vehicle to buy into a private UK oil and gas operator.
There was also an apparent delayed reaction to news earlier in the month that Gold to Nickel explorer Kataro Gold (KAT) was pushing along with its drilling programme to target Nickel Sulphides in Tanzania. With the stock up 10%, it was playing catch up with the likes of fellow Nickel plays like Horizonte Minerals (HZM), following Tesla’s Elon Musk urging for more Nickel production to aid the electric vehicles boom.
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